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GLOBIX CORPORATION TO COMMENCE CASH TENDER OFFER FOR 13% SENIOR NOTES DUE 2005
NEW YORK — February 7, 2000 — Globix Corporation (NASDAQ:
GBIX) today announced that it will commence an offer to purchase,
pursuant to an Offer to Purchase, any and all of its outstanding $160
million principal amount, 13% Senior Notes due 2005, upon the closing
of the sale of the previously announced $600 million principal amount,
12.5% Senior Notes due 2010. The closing of the 12.5% Senior Notes is
expected to occur on February 8, 2000.
The Offer will expire at 5:00 p.m. New York City time on March 7, 2000,
unless extended. The purchase price per $1,000 principal amount of Notes
in the Offer will be $1,065 plus accrued and unpaid interest from November
1, 1999 to the date of payment. The Company has received sufficient consents
and has amended the indenture governing the 13% Senior Notes to delete
substantially all of the restrictive covenants.
All tenders will be executed through Lehman Brothers, the exclusive Dealer
Manager for the tender offer. Persons with questions regarding the tender
offer should contact Lehman Brothers at 800-438-3242. Documentation can be
obtained by calling D.F. King & Co., the information agent, at 800-488-8095.
Globix Corporation is a leading provider of Internet connectivity and
advanced Internet services for businesses in the United States and Europe.
Through its high-speed, fault-tolerant, fiber-optic network and state-of-the-art
Internet Data Centers in New York City, Santa Clara, CA and London, UK, Globix
delivers superior reliability, security and performance to companies using the
Internet to deploy mission-critical business strategies. Cutting-edge solutions
include Co-Location, Hosting and Dedicated Access. The Applications Services
Group at Globix offers services such as Streaming Media, Electronic Commerce,
Solutions Architecture and Internet Security.
This press release contains forward-looking statements. Actual results could differ
materially from those projected in the forward-looking statements. Additional information
concerning factors that could cause actual results to differ materially from those in the
forward-looking statements is contained under the heading of Risk Factors listed from time
to time in the Company’s filings with the Securities and Exchange Commission.
VP – Corporate Finance
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